U.S. patent application number 14/460104 was filed with the patent office on 2014-12-04 for monitoring retail transactions associated with a financial institution-based merchant offer program and determining savings metrics.
The applicant listed for this patent is BANK OF AMERICA CORPORATION. Invention is credited to Jason P. Blackhurst, Michael W. Upton.
Application Number | 20140358682 14/460104 |
Document ID | / |
Family ID | 44342476 |
Filed Date | 2014-12-04 |
United States Patent
Application |
20140358682 |
Kind Code |
A1 |
Blackhurst; Jason P. ; et
al. |
December 4, 2014 |
MONITORING RETAIL TRANSACTIONS ASSOCIATED WITH A FINANCIAL
INSTITUTION-BASED MERCHANT OFFER PROGRAM AND DETERMINING SAVINGS
METRICS
Abstract
Embodiments of the invention provide for monitoring transactions
and providing related savings metrics in association with a
financial institution-based merchant offer program. Since the
transaction monitoring occurs at the financial institution level,
the savings metrics may include savings amounts lost by conducting
a transaction absent a merchant offer when an applicable merchant
offer was available.
Inventors: |
Blackhurst; Jason P.;
(Charlotte, NC) ; Upton; Michael W.; (Charlotte,
NC) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
BANK OF AMERICA CORPORATION |
Charlotte |
NC |
US |
|
|
Family ID: |
44342476 |
Appl. No.: |
14/460104 |
Filed: |
August 14, 2014 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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13013689 |
Jan 25, 2011 |
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14460104 |
|
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61299715 |
Jan 29, 2010 |
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Current U.S.
Class: |
705/14.53 |
Current CPC
Class: |
G06Q 20/10 20130101;
G06Q 30/0255 20130101 |
Class at
Publication: |
705/14.53 |
International
Class: |
G06Q 30/02 20060101
G06Q030/02 |
Claims
1. A system for providing savings monitoring in a financial
institution-based merchant-offer program, the system comprising: a
memory device with non-transitory computer-readable program code
stored thereon; a communication device; a processing device
operatively coupled to the memory device and the communication
device, wherein the processing device is configured to execute the
computer-readable program code to: monitor one or more financial
institution accounts held by a financial institution customer to
identify (1) one or more first transactions conducted by the
customer with a plurality of different merchants over a
predetermined time period, wherein the first transactions are
identified based on customer acceptance of customer-specific
first-merchant-offers associated with the financial
institution-based merchant-offer program, which were offered to the
customer based on customer-specific information and (2) one or more
second transactions, wherein one or more customer-specific second
merchant-offers associated with the financial institution-based
merchant-offer program were available concurrent with the second
transaction, wherein the customer-specific second merchant-offers
were associated with an item in the second merchant transactions
and wherein the customer-specific second merchant-offers were not
applied by the financial institution customer in the second
transactions; identify a transaction price for the item in the
second merchant transaction; identify a merchant offer price for
the item in the second merchant transaction, wherein the merchant
offer price is a price of the item with the customer-specific
second merchant-offer applied; determine a lost savings amount
associated with the second merchant transaction, wherein the lost
savings amount is a savings that could have been realized from
acceptance of the customer-specific second merchant-offers, wherein
the lost savings amount is a difference between the transaction
price and the merchant offer price for the item of the second
merchant transaction; and provide the lost savings amount to the
financial institution customer.
2. The system of claim 1 further comprising determining a lost
savings metric associated with the second merchant transaction,
wherein determining the lost savings metrics comprises determining
a total lost savings amount for the second merchant transactions,
wherein the second merchant transactions occur over a predetermined
period of time.
3. The system of claim 1 further comprising determining a lost
savings metric associated with the second merchant transaction,
wherein determining the lost savings metrics comprises determining
a total lost savings amount for the second merchant transactions,
wherein the second merchant transactions occur over a life of the
financial institution-based merchant-offer program.
4. The system of claim 1 further comprising providing the lost
savings metric for a predetermined time period and for the life of
the financial institution-based merchant-offer program to the
financial institution customer.
5. The system of claim 1, wherein determining the lost savings
amount associated with the second merchant transaction is further
configured to be a per transaction lost savings amount.
6. The system of claim 1, wherein providing the lost savings amount
to the financial institution customer further comprises providing
the lost savings amount to the financial institution customer via a
financial institution-based merchant offer program user interface
application.
7. The system of claim 1, wherein providing the lost savings amount
to the financial institution customer further comprises providing
the lost savings amount to the financial institution customer via a
financial institution statement.
8. The system of claim 1, wherein determining the lost savings
amount associated with the second merchant transaction further
comprises determining a percentage difference between the
transaction price and the merchant offer price for the item of the
second merchant transaction.
9. A computer program product for providing savings monitoring in a
financial institution-based merchant-offer program, the computer
program product comprising at least one non-transitory
computer-readable medium having computer-readable program code
portions embodied therein, the computer-readable program code
portions comprising: an executable portion configured for
monitoring one or more financial institution accounts held by a
financial institution customer to identify (1) one or more first
transactions conducted by the customer with a plurality of
different merchants over a predetermined time period, wherein the
first transactions are identified based on customer acceptance of
customer-specific first-merchant-offers associated with the
financial institution-based merchant-offer program, which were
offered to the customer based on customer-specific information and
(2) one or more second transactions, wherein one or more
customer-specific second merchant-offers associated with the
financial institution-based merchant-offer program were available
concurrent with the second transaction, wherein the
customer-specific second merchant-offers were associated with an
item in the second merchant transactions and wherein the
customer-specific second merchant-offers were not applied by the
financial institution customer in the second transactions; an
executable portion configured for identifying a transaction price
for the item in the second merchant transaction; an executable
portion configured for identifying a merchant offer price for the
item in the second merchant transaction, wherein the merchant offer
price is a price of the item with the customer-specific second
merchant-offer applied; an executable portion configured for
determining a lost savings amount associated with the second
merchant transaction, wherein the lost savings amount is a savings
that could have been realized from acceptance of the
customer-specific second merchant-offers, wherein the lost savings
amount is a difference between the transaction price and the
merchant offer price for the item of the second merchant
transaction; and an executable portion configured for providing the
lost savings amount to the financial institution customer.
10. The computer program product of claim 9 further comprising an
executable portion configured for determining a lost savings metric
associated with the second merchant transaction, wherein
determining the lost savings metrics comprises determining a total
lost savings amount for the second merchant transactions, wherein
the second merchant transactions occur over a predetermined period
of time.
11. The computer program product of claim 9 further comprising an
executable portion configured for determining a lost savings metric
associated with the second merchant transaction, wherein
determining the lost savings metrics comprises determining a total
lost savings amount for the second merchant transactions, wherein
the second merchant transactions occur over a life of the financial
institution-based merchant-offer program.
12. The computer program product of claim 9 further comprising an
executable portion configured for providing the lost savings metric
for a predetermined time period and for the life of the financial
institution-based merchant-offer program to the financial
institution customer.
13. The computer program product of claim 9, wherein determining
the lost savings amount associated with the second merchant
transaction is further configured to be a per transaction lost
savings amount.
14. The computer program product of claim 9, wherein providing the
lost savings amount to the financial institution customer further
comprises providing the lost savings amount to the financial
institution customer via a financial institution-based merchant
offer program user interface application.
15. The computer program product of claim 9, wherein providing the
lost savings amount to the financial institution customer further
comprises providing the lost savings amount to the financial
institution customer via a financial institution statement.
16. The computer program product of claim 9, wherein determining
the lost savings amount associated with the second merchant
transaction further comprises determining a percentage difference
between the transaction price and the merchant offer price for the
item of the second merchant transaction.
17. A computer-implemented method for providing savings monitoring
in a financial institution-based merchant-offer program, the method
comprising: providing a computing system comprising a computer
processing device and a non-transitory computer readable medium,
where the computer readable medium comprises configured computer
program instruction code, such that when said instruction code is
operated by said computer processing device, said computer
processing device performs the following operations: monitoring one
or more financial institution accounts held by a financial
institution customer to identify (1) one or more first transactions
conducted by the customer with a plurality of different merchants
over a predetermined time period, wherein the first transactions
are identified based on customer acceptance of customer-specific
first-merchant-offers associated with the financial
institution-based merchant-offer program, which were offered to the
customer based on customer-specific information and (2) one or more
second transactions, wherein one or more customer-specific second
merchant-offers associated with the financial institution-based
merchant-offer program were available concurrent with the second
transaction, wherein the customer-specific second merchant-offers
were associated with an item in the second merchant transactions
and wherein the customer-specific second merchant-offers were not
applied by the financial institution customer in the second
transactions; identifying a transaction price for the item in the
second merchant transaction; identifying a merchant offer price for
the item in the second merchant transaction, wherein the merchant
offer price is a price of the item with the customer-specific
second merchant-offer applied; determining a lost savings amount
associated with the second merchant transaction, wherein the lost
savings amount is a savings that could have been realized from
acceptance of the customer-specific second merchant-offers, wherein
the lost savings amount is a difference between the transaction
price and the merchant offer price for the item of the second
merchant transaction; and providing the lost savings amount to the
financial institution customer.
18. The computer-implemented method of claim 17 further comprising
determining a lost savings metric associated with the second
merchant transaction, wherein determining the lost savings metrics
comprises determining a total lost savings amount for the second
merchant transactions, wherein the second merchant transactions
occur over a predetermined period of time.
19. The computer-implemented method of claim 17 further comprising
determining a lost savings metric associated with the second
merchant transaction, wherein determining the lost savings metrics
comprises determining a total lost savings amount for the second
merchant transactions, wherein the second merchant transactions
occur over a life of the financial institution-based merchant-offer
program.
20. The computer-implemented method of claim 17, wherein
determining the lost savings amount associated with the second
merchant transaction further comprises determining a percentage
difference between the transaction price and the merchant offer
price for the item of the second merchant transaction.
Description
CLAIM OF PRIORITY UNDER 35 U.S.C. .sctn.119
[0001] The present application for patent claims priority to
Non-Provisional application Ser. No. 13/013,689 entitled
"Monitoring Retail Transactions Associated with a Financial
Institution-based Merchant Offer Program and Determining Savings
Metrics" filed Jan. 25, 2011 which claims priority to Provisional
Application No. 61/299,715 entitled "Monitoring Retail Transactions
and Determining Savings Metrics Using a Financial Institution-Based
Merchant Offer Program" filed Jan. 29, 2010. Both assigned to the
assignee hereof and hereby expressly incorporated by reference
herein.
FIELD
[0002] In general, embodiments of the invention relate to methods,
systems, apparatus and computer program products for monitoring
retail transactions and providing data related to amount saved and,
more particularly, monitoring and providing data related to amount
saved associated with a financial institution-based merchant offer
program.
BACKGROUND
[0003] The advent of the Internet has provided merchants with new
channels for reaching customers and providing information,
advertising, and offers related to their products or services.
However, sales and marketing campaigns are often not as effective
as they might be, because they provide the customer the wrong
information, advertisements, or offers, or alternatively provide
the customer the right information, advertisements, or offers at
the wrong time. The Internet, likewise, provides customers with the
ability to quickly locate information about products or services in
which they are interested, and to purchase those products or
services, without leaving their computer. However, customers who
shop online often cannot find the exact product or service that
they want, they fail to find what they want at a price that they
find attractive, or they fail to utilize discounts that are
available for the products for services. These scenarios result in
discounts or promotions offered by the merchant not being utilized
or in customers not receiving the benefit of such discounts or
promotions.
[0004] Financial institutions have large amounts of customer data
because they maintain or administer their customers' various
financial accounts (i.e., credit card account, checking account,
savings account, etc.) and because they also have data related to
their customers' purchases. Financial institutions track and store
data related to when their customers made the purchases, how much
the customers spent, what merchants the customers used to make the
purchases, etc. for both online and offline purchases. Furthermore,
financial institutions also have direct relationships with many
different merchants that use the financial institutions for their
own financial needs. Due to the relationships financial
institutions have with both customers and merchants, as well as the
data that they capture because of those relationships, financial
institutions are uniquely positioned to facilitate merchants in
providing targeted sales and marketing offers to customers at the
time of purchase; and to provide customers with payment options and
information (i.e., balances) for making purchasing decisions for
products and services.
[0005] In addition to utilizing targeted sales and marketing
offers, customers also benefit from having the ability to track
savings metrics associated with targeted sales and marketing
offers, such as amounts saved on a per transaction basis,
cumulative savings over a specified time period, percentage saved
of a predetermined overall savings goal and the like. From the
customer perspective, such savings data reinforces the usefulness
of the targeted sales and marketing offers, provide the incentive
for the customer to continue to use the targeted sales and
marketing offers and allows the customer to plan further purchases
that may include use of the merchant offers/discounts.
[0006] A need exists to develop systems, methods, apparatus,
computer programs and the like that provide for highly effective
means for delivering targeted sales and marketing offers to
customers and, specifically, financial institution customers. In
addition, the desired systems, methods, apparatus and computer
program products should provide the ability to readily and
effectively track savings metrics associated with the targeted
sales and marketing offers and provide for various means of
communicating the savings metrics to the customer.
SUMMARY OF THE INVENTION
[0007] The following presents a simplified summary of one or more
embodiments in order to provide a basic understanding of such
embodiments. This summary is not an extensive overview of all
contemplated embodiments, and is intended to neither identify key
or critical elements of all embodiments, nor delineate the scope of
any or all embodiments. Its sole purpose is to present some
concepts of one or more embodiments in a simplified form as a
prelude to the more detailed description that is presented
later.
[0008] Embodiments of the present invention address the above needs
and/or achieve other advantages by providing apparatuses (e.g., a
system, computer program product, and/or other device), methods, or
a combination of the foregoing for monitoring transactions and
determining transaction-related savings metrics in association with
a financial institution-based merchant offer program. The savings
metrics may be any data related to realized, potential and/or lost
savings as associated with the financial institution-based merchant
offer program. The financial institution not only has the ability
to track merchant offers associated with the program that are
accepted by the customer (thus, resulting in a savings), but the
financial institution also has the ability to track or monitor
other transactions made by the customer in which relevant merchant
offers were available at the time of the transaction but were not
accepted or were not made aware of to the customer. As such, the
present invention not only provides for savings metrics related to
the amount saved, but also provides for savings metrics related to
the amount that the customer could have saved if merchant offers
related to the program had been used or otherwise accepted by the
customer.
[0009] In addition, by monitoring and tracking transactions that
benefit from the merchant offer program, transactions that failed
to benefit from the merchant offer program and transactions outside
of the merchant offer program, the present invention is able to
determine what types of offers should be presented to the customer
in the future and from which merchants.
[0010] In addition, the present invention provides multiple means
for communicating the savings metrics to the customer, such as via
conventional financial institution statements, online banking
statements, transactions receipts, to a merchant offer program
local interface application, such as a widget, and/or the like.
[0011] A method for providing savings monitoring in a financial
institution-based merchant offer program defines first embodiments
of the invention. The method includes monitoring, via a computing
device processor, merchant transactions conducted by a financial
institution customer to identify one or more first merchant
transactions. The first merchant transactions are based on customer
acceptance of first merchant offers associated with the financial
institution-based merchant offer program. The method further
includes determining, via a computing device processor, one or more
savings metrics associated with the first customer transactions and
based on savings realized from acceptance of the first merchant
offers. In addition, the method includes providing the one or more
savings metrics to the financial institution customer.
[0012] In specific embodiments of the method determining further
includes determining, via the computing device processor, the one
or more savings metrics, wherein one of the savings metrics is
configured to be a total amount saved for the first merchant
transactions, wherein the first merchant transactions occur over a
predetermined period of time, such as a month, a year and/or over
the life of the financial institution-based merchant offer program.
In other related embodiments of the method, determining further
comprises determining, via the computing device processor, the one
or more savings metrics, wherein one of the savings metrics is
configured to be a per transaction savings amount.
[0013] In other specific embodiments of the method, providing
further includes providing, via a computing device processor, the
one or more savings metrics to the financial institution customer
via one or more of a financial institution-based merchant offer
program user interface application, a merchant transaction receipt,
and a financial institution statement, such as an online banking
statement or the like.
[0014] In still further specific embodiments of the method,
monitoring further includes monitoring, via the computing device
processor, the merchant transactions conducted by the financial
institution customer to identify second merchant transactions. One
or more second merchant offers associated with the financial
institution-based merchant offer program were available concurrent
with the second merchant transaction, the second merchant offers
were associated with an item in the second merchant transactions
and the second merchant offers were not applied by the financial
institution customer in the second merchant transactions. In such
embodiments of the method, determining may further include
determining, via the computing device processor, one or more lost
savings metrics associated with the second customer transactions
and providing may further include providing the one or more lost
savings metrics to the financial institution customer. In further
such embodiment of the method, determining the one or more lost
savings metrics may further include determining, via the computing
device processor, the one or more lost savings metrics, wherein one
of the lost savings metrics is configured to be a total amount lost
savings for the second merchant transactions and the second
merchant transactions occur over a predetermined period of time,
such as a month, a year and/or over a life of the financial
institution-based merchant offer program.
[0015] In still further related embodiments of the method,
determining further included determining, via the computing device
processor, the one or more savings metrics, wherein one of the
savings metrics is configured to be a percentage saved of a
customer savings goal.
[0016] Moreover, in further embodiments the method includes
automatically transferring, via a computing device processor, at
least a portion of savings amounts associated with the first
merchant transactions from a first customer-designated account to a
second customer-designated account.
[0017] An apparatus for providing savings monitoring in a financial
institution-based merchant offer program defines second embodiments
of the invention. The apparatus includes a computing platform
including at least one processor and a memory. The apparatus
further includes a financial institution-based merchant offer
program application stored in the memory, executable by the
processor and configured to communicate merchant offers to
financial institution customers based on authentication of the
customer. The apparatus further includes a transaction monitoring
routine stored in the memory, executable by the at least one
processor and configured to identify one or more first merchant
transactions. The first merchant transactions are based on customer
acceptance of first merchant offers associated with the financial
institution-based merchant offer program. In addition, the
apparatus includes a savings metric determination routine stored in
the memory, executable by the processor and configured to
determining one or more savings metrics associated with the first
customer transactions and based on savings realized from acceptance
of the first merchant offers.
[0018] In specific embodiments of the apparatus the savings metric
determination routine is further configured to determine the one or
more savings metrics, wherein one of the savings metrics is
configured to be a total amount saved for the first merchant
transactions, such that the first merchant transactions occur over
a predetermined period of time, such as a month, a year and/or over
the life of the financial institution-based merchant offer program.
In other related embodiments of the apparatus, the savings metric
determination routine is further configured to determine the one or
more savings metrics, in which one of the savings metrics is
configured to be a per transaction savings amount.
[0019] In other specific embodiments of the apparatus, the
financial institution-based merchant offer program application
further includes a user interface routine, such as a widget or the
like, configured to provide the one or more savings metrics to the
financial institution customer. In still further related
embodiments the apparatus includes a transaction receipt routine
stored in the memory, executable by the processor and configured to
provide the one or more savings metrics to the financial
institution customer via a first merchant transaction receipt. In
additional related embodiments the apparatus includes a
network-accessible online financial institution module, stored in
the memory, executable by the processor and configured to provide
the one or more savings metrics to the financial institution
customer via an online financial institution statement.
[0020] In further specific embodiments of the apparatus the
transaction monitoring routine is further configured to monitor the
merchant transactions conducted by the financial institution
customer to identify second merchant transactions. One or more
second merchant offers associated with the financial
institution-based merchant offer program were available concurrent
with the second merchant transaction, the second merchant offers
were associated with an item in the second merchant transactions
and the second merchant offers were not applied by the financial
institution customer in the second merchant transactions.
[0021] In such related embodiments of the apparatus, the savings
metric determination routine may be further configured to determine
one or more lost savings metrics associated with the second
customer transactions. In such embodiments of the apparatus, the
savings metric determination routine is further configured to
determine the one or more lost savings metrics, wherein one of the
lost savings metrics is configured to be a total amount lost
savings for the second merchant transactions, wherein the second
merchant transactions occur over a predetermined period of time,
such as a month, a year and/or over a life of the financial
institution-based merchant offer program.
[0022] In still further specific embodiments of the apparatus, the
savings metric determination routine is further configured to
determine the one or more savings metrics, wherein one of the
savings metrics is configured to be a percentage saved of a
customer savings goal.
[0023] Moreover, in other embodiments the apparatus includes a
savings transfer routine stored in the memory, executable by the
processor and configured to automatically transferring at least a
portion of a savings amounts associated with the first merchant
transactions from a first customer-designated account to a second
customer-designated account.
[0024] A computer program product includes a non-transitory
computer-readable medium defines third embodiments of the
invention. The computer-readable medium includes a first set of
codes for causing a computer to monitor merchant transactions
conducted by a financial institution customer to identify one or
more first merchant transactions. The first merchant transactions
are based on customer acceptance of first merchant offers
associated with the financial institution-based merchant offer
program. The computer-readable medium also includes a second set of
codes for causing a computer to determine one or more savings
metrics associated with the first customer transactions and based
on savings realized from acceptance of the first merchant offers.
In addition, the computer-readable medium includes a third set of
codes for causing a computer to provide the one or more savings
metrics to the financial institution customer.
[0025] Thus, systems, apparatus, methods, and computer program
products herein described provide for monitoring transactions and
providing transaction-related savings metrics in association with a
financial institution-based merchant offer program. Since the
transactions are being monitored and the savings metrics determined
by a financial institution, the savings metrics may not only
include amounts saved by accepting the merchant offers, but also
amounts that the customer could have saved if they had accepted an
offer and/or been aware of an offer. Additionally, since the
transaction monitoring of the present invention, tracks
transactions that occur inside and outside of the merchant offer
program, the present invention is also capable of determining the
type and/or source of future offers, so as to better meet the
specific needs of the customer.
[0026] To the accomplishment of the foregoing and related ends, the
one or more embodiments comprise the features hereinafter fully
described and particularly pointed out in the claims. The following
description and the annexed drawings set forth in detail certain
illustrative features of the one or more embodiments. These
features are indicative, however, of but a few of the various ways
in which the principles of various embodiments may be employed, and
this description is intended to include all such embodiments and
their equivalents.
BRIEF DESCRIPTION OF THE DRAWINGS
[0027] Having thus described embodiments of the invention in
general terms, reference will now be made to the accompanying
drawings, which are not necessarily drawn to scale, and
wherein:
[0028] FIG. 1 provides a block diagram illustration of an apparatus
configured for monitoring customer transactions associated with a
financial institution-based merchant offer program and determining
savings metrics for the transactions, in accordance with
embodiments of the present invention;
[0029] FIG. 2 provides a block diagram illustrating customer and
financial institution apparatus for implementing a financial
institution-based merchant offer program, in accordance with
present embodiments of the invention;
[0030] FIG. 3 provides a block diagram illustrating a financial
institution apparatus for monitoring customer transactions and
providing savings metrics associated with the merchant offer
program, in accordance with embodiments of the present
invention;
[0031] FIG. 4 provides a block diagram illustrating various
merchant offer program savings metric output channels, in
accordance with embodiments of the present invention;
[0032] FIG. 5 provides a flow diagram of a method for monitoring
transactions and providing savings metrics associated with a
financial institution-based merchant offer program, in accordance
with embodiments of the present invention;
[0033] FIG. 6 provides a block diagram illustrating a comprehensive
financial institution-based merchant offer program environment, in
accordance with an embodiment of the present invention;
[0034] FIG. 7A provides an integrated online financial banking and
customer shopping process, in accordance with an embodiment of the
present invention;
[0035] FIG. 7B provides a continuation of the integrated online
financial banking and customer shopping process, in accordance with
an embodiment of the present invention;
[0036] FIG. 8 provides a web browser and merchant offer program
notification alert, in accordance with an embodiment of the present
invention;
[0037] FIG. 9 provides a local merchant offer program application
interface, in accordance with an embodiment of the present
invention; and
[0038] FIG. 10 provides a local merchant offer program application
interface activated by a customer searching the internet, in
accordance with an embodiment of the present invention.
DETAILED DESCRIPTION OF EMBODIMENTS OF THE INVENTION
[0039] Embodiments of the present invention will now be described
more fully hereinafter with reference to the accompanying drawings,
in which some, but not all, embodiments of the invention are shown.
Indeed, the invention may be embodied in many different forms and
should not be construed as limited to the embodiments set forth
herein; rather, these embodiments are provided so that this
disclosure will satisfy applicable legal requirements. Like numbers
refer to like elements throughout. Although some embodiments of the
invention described herein are generally described as involving a
"financial institution," one of ordinary skill in the art will
appreciate that the invention may be utilized by other businesses
that take the place of or work in conjunction with financial
institutions to perform one or more of the processes or steps
described herein as being performed by a financial institution.
[0040] As will be appreciated by one of skill in the art in view of
this disclosure, the present invention may be embodied as an
apparatus (e.g., a system, computer program product, and/or other
device), a method, or a combination of the foregoing. Accordingly,
embodiments of the present invention may take the form of an
entirely hardware embodiment, an entirely software embodiment
(including firmware, resident software, micro-code, etc.), or an
embodiment combining software and hardware aspects that may
generally be referred to herein as a "system." Furthermore,
embodiments of the present invention may take the form of a
computer program product comprising a computer-usable storage
medium having computer-usable program code/computer-readable
instructions embodied in the medium.
[0041] Any suitable computer-usable or computer-readable medium may
be utilized. The computer usable or computer readable medium may
be, for example but not limited to, an electronic, magnetic,
optical, electromagnetic, infrared, or semiconductor system,
apparatus, or device. More specific examples (a non-exhaustive
list) of the computer-readable medium would include the following:
an electrical connection having one or more wires; a tangible
medium such as a portable computer diskette, a hard disk, a random
access memory (RAM), a read-only memory (ROM), an erasable
programmable read-only memory (EPROM or Flash memory), a compact
disc read-only memory (CD-ROM), or other tangible optical or
magnetic storage device.
[0042] Computer program code/computer-readable instructions for
carrying out operations of embodiments of the present invention may
be written in an object oriented, scripted or unscripted
programming language such as Java, Pearl, Smalltalk, C++ or the
like. However, the computer program code/computer-readable
instructions for carrying out operations of the invention may also
be written in conventional procedural programming languages, such
as the "C" programming language or similar programming
languages.
[0043] Embodiments of the present invention are described below
with reference to flowchart illustrations and/or block diagrams of
methods or apparatuses (the term "apparatus" including systems and
computer program products). It will be understood that each block
of the flowchart illustrations and/or block diagrams, and
combinations of blocks in the flowchart illustrations and/or block
diagrams, can be implemented by computer program instructions.
These computer program instructions may be provided to a processor
of a general purpose computer, special purpose computer, or other
programmable data processing apparatus to produce a particular
machine, such that the instructions, which execute via the
processor of the computer or other programmable data processing
apparatus, create mechanisms for implementing the functions/acts
specified in the flowchart and/or block diagram block or
blocks.
[0044] These computer program instructions may also be stored in a
computer-readable memory that can direct a computer or other
programmable data processing apparatus to function in a particular
manner, such that the instructions stored in the computer readable
memory produce an article of manufacture including instructions,
which implement the function/act specified in the flowchart and/or
block diagram block or blocks.
[0045] The computer program instructions may also be loaded onto a
computer or other programmable data processing apparatus to cause a
series of operational steps to be performed on the computer or
other programmable apparatus to produce a computer implemented
process such that the instructions, which execute on the computer
or other programmable apparatus, provide steps for implementing the
functions/acts specified in the flowchart and/or block diagram
block or blocks. Alternatively, computer program implemented steps
or acts may be combined with operator or human implemented steps or
acts in order to carry out an embodiment of the invention.
[0046] Embodiments of the present invention provide for systems,
devices, apparatus, methods and computer program products for
monitoring transactions and providing for savings metrics in
association with a financial institution-based merchant offer
program. Savings metrics as defined herein include any data related
to realized, potential and/or lost savings associated with the
financial institution-based merchant offer program. Since
transaction monitoring occurs at the financial institution level
and the financial institution has access to customer data,
including customer transaction data, the savings metrics may
include amounts saved by accepting the merchant offers associated
with the program and amounts that could have been saved if a
merchant offer associated with the program had been accepted.
Additionally, the present invention is also capable of determining
the type and/or source of future merchant offers associated with
the program based on the monitoring of previous transactions.
[0047] Referring to FIG. 1 a block diagram is provided of an
apparatus 12 configured to monitor customer transaction to identify
transactions based on customer acceptance of merchant offers
associated with the financial institution-based merchant offer
program and to determine savings metrics for the identified
transactions, in accordance with embodiments of the present
invention. The apparatus 12 includes a computing platform 13 having
a processor 14 and a memory 16 in communication with processor
14.
[0048] The memory 16 of apparatus 12 stores financial
institution-based merchant offer program application 10. The
merchant offer program is configured to provide merchant offers 64
to authenticated customers 15. The merchant offer program is
"financial institution-based" in that the financial institution has
a relationship with the merchants providing the offers and, as
such, is able to provide the merchant offers to customers of the
financial institution. The financial institution customers are
authenticated, either prior to receiving merchant offers or prior
to conducting a related transaction, in order to verify their
acceptance in the merchant offer program and, in some instance
verify their identity. Specific embodiments of exemplary merchant
offer programs are discussed in relation to FIG. 2 and FIGS. 6-10,
infra.
[0049] The memory 16 of apparatus 12 additionally stores
transaction monitoring routine 70 that is configured to monitor
merchant transactions to identify merchant offer program-related
transactions 72 that are based on customer acceptance of merchant
offers 64. In specific embodiment the transaction monitoring
routine may limit monitoring to merchant transactions associated
with merchants participating in the program and/or merchant
transactions conducted with authenticated customers 15.
[0050] In addition, memory 16 stores saving metric determination
routine 80 that is configured to determine one or more saving
metrics 81 associated with the merchant offer-program-related
transactions 72 and based on savings realized from acceptance of
the merchant offers 64. As discussed in detail, infra., the savings
metrics may include a total savings amount for a predetermined time
period, such as a month, a year or the like, a total savings amount
over the life of the merchant savings program and/or a per
transaction savings amount.
[0051] Referring to FIG. 2 a high level block diagram of a
financial institution-based merchant offer program environment 100
in accordance with embodiments of the present invention is
illustrated. Additionally, further details associated with an
example of a merchant offer program are shown and described in
relation to FIGS. 6-10, infra. Environment 100 includes customer
apparatus 22 and financial institution apparatus 12. Customer
apparatus 22 may comprise any computing device or combination of
computing devices, such as personal computer, laptop computer,
mobile device, such as personal digital assistant (PDA), automated
teller machine (ATM), smart telephone or the like. The financial
institution apparatus 12 may comprise any computing device or
combination of computing devices, such as servers, mainframe
computers, or the like.
[0052] The customer apparatus 22 includes a computing platform 23
having at least one processor 24 and a memory 26. The memory 26
includes local merchant offer program application 11 that is
configured to provide the financial institution customer with
merchant offers based on the financial institution's predetermined
relationship with a plurality of merchants. In accordance with
specific embodiments of the invention, the local merchant offer
program application is customer configurable. Configuration may
include specifying which types of offers are to be presented, from
which merchants the customer desires offers to be presented, the
time of day the customer desires offers to be presented and the
like. The local merchant offer program application 11 may be
downloaded to apparatus 22, such as via a Intranet or other network
connection or otherwise loaded from other computer readable medium,
such as a compact disc, flash memory device or the like.
[0053] The local merchant offer program application 11 includes
authentication routine 50 that is configured to receive from the
customer authentication credentials, such as username 52 and
password 54 and receive authentication confirmation from a
corresponding authentication verification routine 56 executed on
financial institution apparatus 12. In alternate embodiments the
authentication credentials may be a cookie stored in the memory 26
of apparatus 22 that is automatically communicated to the
verification routine 56 upon activation of the device or the like.
Thus, authentication routine 50 and corresponding authentication
verification routine 56 are configured to verify the identity of
the user as a financial institution customer and, more specifically
a financial institution customer authorized to participate in the
merchant offer program.
[0054] In specific embodiments of the invention, the local merchant
offer program application 11 may be configured to require customer
authentication at the onset of launching the application, i.e.,
prior to receiving merchant offers. Such configuration, whereby the
customer verifies identity prior to receiving merchant offers, may
be necessary if the merchant offer program is configured to provide
customer-specific offers based on customer attributes, customer
profile data, previous customer transactions or the like. In other
specific embodiments of the invention, the local merchant offer
program application 11 may be configured to require customer
authentication prior to accepting an offer or conducting the
associated transaction. Such configuration, whereby the customer
verifies identity prior to accepting an offer, may be necessary to
insure that the customer is an authorized participant in the
merchant offer program.
[0055] Local merchant offer program application 11 additionally
includes local interface routine 60 that is configured to provide a
local interface on apparatus 22 for displaying one or more merchant
offers 64 to the customer, and more specifically, customer-specific
merchant offers 65. The merchant offers 64 are based on a
predetermined relationship between the financial institution and
the merchant. The local interface may be configured to be displayed
or otherwise pop-up based on specific customer actions. For
example, if the apparatus 22 is a personal computer and the
customer accesses a merchant website on the Internet, the routine
60 may be configured to automatically display the local interface
if the financial institution has a predetermined relationship with
the merchant and, in some instances, if the financial institution
or the merchant are currently offering offers, such as discounts,
rebates or the like. In other embodiments in which the apparatus 22
is a portable or mobile computing device and the device is equipped
with location determination means, such as Global Positioning
Systems (GPS) devices or the like, the presence of the device at or
proximate to a physical location of the merchant may cause the
routine 60 to automatically display the local interface if the
financial institution has a predetermined relationship with the
merchant and, in some instances, if the financial institution or
the merchant are currently providing offers, such as discounts or
the like. In other embodiments of the invention, the local
interface may be customer activated and allow for the customer to
search for merchant offers by entering a merchant name or some
other merchant identifying criteria, such as physical address or
the like.
[0056] As previously noted, the customer may configure application
11, such that local interface and corresponding merchant offers 64
are displayed or otherwise pop-up only based on customer defined
criteria. The customer defined criteria may include product/service
type, merchant type, offer type, time of day, week, etc., customer
physical location and the like. Thus, customer configuration of the
local interface can limit the instances in which the local
interface is automatically displayed or otherwise pops-up.
[0057] Financial institution apparatus 12 includes computing
platform 13 having one or more processors 14 and a memory 16. The
memory 16 of apparatus 12 includes financial institution merchant
offer program application 10 that is configured to determine
merchant offers based on the financial institutions predetermined
relationship with specified merchants and provide the merchant
offers to the customer via the local interface of the local
merchant offer program application 11 executed on customer
apparatus 22.
[0058] Financial institution apparatus 12 includes previously
mentioned authentication verification routine 56 that is configured
to receive authentication credentials, such as username 52 and
password 54 from authentication routine 50 of local merchant offer
program application 11, verify the authentication credentials based
on stored authentication data and return authentication
confirmation to authentication routine 10. As previously noted, the
system may be configured such that customer authentication provides
for presentation of merchant offers and/or allows the customer to
conduct transactions based on presented merchant offers.
[0059] Application 10 also includes merchant offer determination
routine 62 configured to determine merchant offers 64 and, more
specifically, customer-specific merchant offers 65.
Customer-specific merchant offers 65 may be based on any customer
information accessible to the financial institution, such as
customer profile information, customer affinity information,
customer account balances, customer account types, customer
transaction information and the like. In addition, the
customer-specific merchant offers may be based on dynamic customer
information, such as the current physical location of the customer,
the current web sites being accessed by the customer or the like.
Once the merchant offers are determined by routine 62 they are
communicated to application 11 and displayed to the customer via
local interface routine 60.
[0060] According to specific embodiments of the invention,
customer-specific merchant offers 65 may be based on previous
customer transactions including both merchant offer program
transactions and non-merchant offer program transactions. In this
regard, the financial institution has the ability to track and
determine previous customer transactions including transactions in
which a merchant offer through the program was involved, as well as
any other transaction conducted through the financial institution,
such as a credit transactions (e.g., a transaction using a
financial institution-issued credit card), a debit transaction from
a financial institution savings or credit account, checking
transactions from a checking account or the like. The
customer-specific merchant offers 65 determined based on previous
transactions may include, but are not limited to, offers for
similar products/service, offers for related products/services and
the like.
[0061] The memory 16 of apparatus 12 additionally stores
transaction monitoring routine 70 that is configured to monitor
merchant transactions to identify merchant offer program-related
transactions 72 that are based on customer acceptance of merchant
offers 64. As previously noted, the identification of merchant
offer program-related transactions 72 may be the basis for
subsequent customer-specific merchant offers 65.
[0062] In addition, transaction monitoring routine 70 may be
configured to monitor merchant transactions to identify
non-merchant offer program transactions 76. Non-merchant offer
program transactions 76 as defined herein are transactions
conducted by the authenticated customer in which a relevant
merchant offer was available at the time of the transaction but the
customer either was unaware of the merchant offer or chose not to
accept the offer. Thus, the non-merchant offer program transaction
76 may have been conducted with the merchant that had the offer
outstanding or with any other merchant, regardless of their
participation in the merchant offer program.
[0063] In addition, memory 16 stores saving metric determination
routine 80 that is configured to determine one or more saving
metrics 81 associated with the merchant offer-program-related
transactions 72 and based on savings realized from acceptance of
the merchant offers 64. The savings metrics may include a total
savings amount for a predetermined time period, such as a month, a
year or the like, a total savings amount over the life of the
merchant savings program and/or a per transaction savings
amount.
[0064] In additional embodiments of the apparatus, the savings
metric determination routine 80 may be configured to determine
savings metrics 81 associated with non-merchant offer program
transactions 76. Such non-merchant offer program transactions 76
provide insight into savings lost, i.e., the savings amount the
customer could have realized if they had accepted the merchant
offer that was outstanding at the time of their non-merchant offer
program transaction 76.
[0065] FIG. 3 provides a more detailed block diagram illustration
of apparatus 12 configured for monitoring customer transaction to
identify transactions based on customer acceptance of merchant
offers associated with the financial institution-based merchant
offer program and determining savings metrics for the identified
transactions, in accordance with embodiments of the present
invention. The memory 36 stores transaction monitoring routine 70
that is configured to monitor transactions conducted by customers.
In monitoring the transactions, routine 70 is configured to
identify merchant offer program related transactions 72 (i.e.,
transactions in which the customer accepted the merchant offer). In
addition, routine 70 may be configured to identify non-merchant
offer program transactions 76, in which a merchant offer was
available but not accepted by the customer. In such instances, the
customer may have declined the offer or the customer may have been
unaware of the existence of the offer.
[0066] As previously noted, financial institutions have access to
customer transaction information including, but not limited to,
credit transactions (e.g., a transaction using a financial
institution-issued credit card), a debit transaction from a
financial institution savings or credit account, a check
transaction from a financial institution checking account or the
like and, therefore, can identify previous transactions, based on
product/service type or the like. As such the transaction
monitoring routine 70 can identify which customer transactions
occurred without the benefit/savings of a merchant offer that was
available at the time of the transaction. It should be noted that
in some instances the customer may have been presented the merchant
offer and chose to forego the offer or, in other instances, the
customer may have been unaware at the time of the transaction that
an offer existed (e.g., a transaction at a retail location in which
the customer was not in possession of a mobile device executing the
local merchant offer program application 11).
[0067] Memory 16 of apparatus 12 additionally stores saving metric
determination routine 80 configured to determine one or more
savings metrics 81 associated with merchant offer program
transactions 72 and non-merchant offer program transactions 76. In
this regard, the saving metric determination routine 80 may be
configured to determine a per transaction amount saved 81 for
merchant offer program-related transactions 72 and a per
transaction amount lost savings 82 for non-merchant offer
program-related transactions 76. The per transaction amount lost
savings 82 is the amount that the customer could have saved defined
as the difference between the transaction price and the merchant
offer price.
[0068] In addition, the savings metrics may include total amount
saved 83 for merchant offer-program-related transactions 72 and
total amount lost savings 84 for the non-merchant offer
program-related transactions 76. The total amount saved and/or lost
savings may be a cumulative total of all offers accepted over the
life of the program and/or the total amount may be for a
predetermined time period, such as a month, a year or the like.
[0069] In addition, saving metric determination routine 80 may be
configured to determine percentage saved 86 by accepting merchant
offers in relation to a customer's predefined savings goal. In such
embodiments, the savings metric determination routine 80 may be in
communication with customer profiles or other customer data records
that indicate the customer's predefined savings goal. Additionally,
the savings metric determination routine 80 may be configured to
determine other savings metrics 88 as defined by the financial
institution or as configured by the customer based on the needs of
the customer.
[0070] Memory 16 additionally stores customer database 90 that
includes a plurality of customer profiles 92. In addition to
storing personal data, account data, affinity data and any other
data related to the customer, customer profile 90 stores savings
metric data, including, but not limited to, per transaction amount
saved 81, per transaction amount lost savings 82, total amount
saved 83, total amount lost savings 84, percentage saved of
customer's savings goal 86 and other savings metric(s) 88.
[0071] In addition, memory 16 may store savings transfer routine
94, which may be configured by the customer to transfer all or a
portion of the amount saved 96 by accepting a merchant offer from a
first customer account 97, such as a checking account or other
account into a second customer account(s) 98, such as savings
account, brokerage account or any other account. The routine 94 may
provide for customer/configuration such that savings transfers
occur based on specified criteria and/or thresholds, such as
savings above/below a specified amount, savings above/below a
specified savings percentage, minimum/maximum balances in the
designated transfer account and the like.
[0072] Referring to FIG. 4 a block diagram is presented of various
distribution mechanisms 110 for communicating the merchant offer
program savings metrics to the customer, in accordance with
embodiments of the present invention. It should be noted that the
distribution mechanisms 110 shown in FIG. 4 are by way of example
only; other distribution mechanisms may be used and are within the
inventive concepts herein disclosed. The distribution mechanisms
include online banking statement 120, conventional statement 130,
transaction receipt 140 and merchant offer program local interface
150. Each of the distribution mechanism 110 may include one or more
savings metrics; including, but not limited to, amount per
transaction savings amount 160, per transaction amount lost savings
162, total savings amount over a specified time period 164, total
lost savings amount over a specified time period 166 and/or other
savings metrics 168.
[0073] In accordance with specific embodiments of the invention,
online banking statement 120 can be updated in real-time or
near-real time fashion to reflect transactions that have just
occurred and posted to the respective account. In this regard, once
a transaction has occurred and posted to an account, online banking
statement 120 indicates the per transaction savings amount 160 for
the previous transaction in which a merchant offer was presented
and accepted and/or the per transaction amount lost savings 162 for
the previous transaction in which an offer was available but not
accepted. In addition, the online banking statement 120 may include
the total amount saved 164 and the total amount lost savings 166
for a specified time period; for example, a month, a year or the
like, and/or over the life of the customer's participation in the
program, as well as, other savings metrics 168.
[0074] The conventional statement 130 is typically mailed, postal
or electronically, to a customer on a recurring basis, such as
monthly or the like. The conventional statement 130 indicates a
listing of transactions that occurred during the previous statement
period and provides for identification of those transaction in
which a merchant offer was used/accepted and the amount the
customer saved 160. Additionally, the listing of transactions
identify those transactions in which a merchant offer was available
but was not used and the associated amount lost savings 162 if the
merchant offer had been accepted. In addition, the conventional
statement 130 may include the total amount saved 164 and the total
amount lost savings 166 for a specified time period; for example, a
month, a year or the like, and/or over the life of the customer's
participation in the program, as well as, other savings metrics
168.
[0075] The transaction receipt 140 may be an online transaction
receipt or, if the transaction occurs at a physical retail
location, the transaction receipt may be a printed hard-copy
receipt. If the transaction included use of a merchant offer, the
transaction receipt 130 indicates the per transaction savings
amount 160. If the transaction did not include use of a merchant
offer but a merchant offer was available, the transaction receipt
indicates the per transaction amount lost savings 162 if the
merchant offer was accepted. In addition, the transaction receipt
130 may include the total amount saved 164 and the total amount
lost savings 166 for a specified time period; for example, a month,
a year or the like, and/or over the life of the customer's
participation in the program, as well as, other savings metrics
168.
[0076] Merchant offer program local interface 150 may be configured
to present savings metrics in real-time. In this regard, once a
transaction associated with an accepted merchant offer occurs, the
local interface 150 may display, shortly after the transaction
occurs, the per transaction amount saved 160. Similarly, once a
transaction occurs in which a merchant offer was available but not
used, the local interface 150 may display, shortly after the
transaction occurs, the per transaction amount lost savings 162. In
addition, the local interface 150 may display a the total amount
saved 164 and the total amount lost savings 166 for a specified
time period; for example, a month, a year or the like, and/or over
the life of the customer's participation in the program. Moreover,
the local interface 150 may be configured to display potential
saving prior to conducting a transaction associated with a merchant
offer. Potential savings provides the customer with a
product/service to consider, based on an outstanding merchant
offer/discount, before making the purchasing decision. In addition,
the local interface may be configured to display other savings
metrics 168.
[0077] FIG. 5 is a flow diagram of a method 170 for providing
customer savings metrics associated with a merchant offer program,
in accordance with an embodiment of the invention. At Event 172,
merchant transactions are monitored by a financial institution that
is implementing a merchant offer program. The merchant transactions
are monitored to identify one or more transactions that are based
on customer acceptance of a merchant offer associated with a
financial-institution based merchant offer program. As previously
noted, the financial institution has a predetermined
relationship/agreement with a plurality of merchants whereby the
financial institution can offer its customers a merchant offer,
such as discount or the like. It should be noted that the
monitoring of transactions may include the monitoring of all
transactions incurred by the merchant and not just those
transactions in which a merchant offer is involved.
[0078] At Event 174, one or more savings metrics are determined.
The savings metrics are associated with the identified merchant
transactions and are based on savings realized from acceptance of
the merchant offer. As previously noted the savings metrics may
include, but are not limited to, the amount saved per transaction
based on acceptance of a merchant offer, the amount lost savings
transaction, the total amount saved, the total amount lost savings,
the percentage saved of a customer's savings goal and the like.
[0079] At Event 176, the one or more savings metrics are provided
to the customer associated with the metrics. As previously noted,
the savings metrics distribution/communication mechanism may
include, but is not limited to, an online banking statement, a
conventional bank statement, a transaction receipt, and display via
the local interface.
[0080] FIG. 6 illustrates a comprehensive
financial-institution-based merchant offer program environment 100
in accordance with an embodiment of the present invention. As
illustrated in FIG. 6, the financial institution-based merchant
offer system 3 is operatively coupled, via a network 2, to one or
more customer computer systems 4 of one or more customers 6, the
financial institution's customer account systems 8, and the
merchant systems 9, as well as other systems at a financial
institution, such as systems that maintain and administer customer
accounts, which are not shown. In this way, a customer 6 located at
the customer computer system 4 can receive information from and
send information to the merchant offer application 10 located on
the financial institution-based merchant offer system 3 through a
local merchant offer application 11 and/or a web browser
application 20, located on the customer computer system 4 through
the network 2. The network 2 may be a global area network (GAN),
such as the Internet, a wide area network (WAN), a local area
network (LAN), or any other type of network or combination of
networks. The network 2 may provide for wireline, wireless, or a
combination of wireline and wireless communication between devices
in the network.
[0081] As illustrated in FIG. 6, the financial institution-based
merchant offer system 3 generally includes a communication device
12, a processing device 14, and a memory device 16. As used herein,
the term "processing device" generally includes circuitry used for
implementing the communication and/or logic functions of a
particular system. For example, a processing device may include a
digital signal processor device, a microprocessor device, and
various analog-to-digital converters, digital-to-analog converters,
and other support circuits and/or combinations of the foregoing.
Control and signal processing functions of the system are allocated
between these processing devices according to their respective
capabilities. The processing device may include functionality to
operate one or more software programs based on computer-readable
instructions thereof, which may be stored in a memory device.
[0082] The processing device 14 is operatively coupled to the
communication device 12, and the memory device 16. The processing
device 14 uses the communication device 12 to communicate with the
network 2, and other devices on the network 2, such as, but not
limited to, the customer computer systems 4, the customer account
systems 8, and/or the merchant systems 9, as well as other systems
within the financial institution that are not shown. As such, the
communication device 12 generally comprises a modem, server, or
other device for communicating with other devices on the network
2.
[0083] As further illustrated in FIG. 6, the financial
institution-based merchant offer system 3 includes
computer-readable instructions 18 stored in the memory device 16,
which in one embodiment include the computer-readable instructions
18 of a merchant offer application 10. In some embodiments, the
memory device 16 includes a datastore 19 for storing data related
to the financial institution-based merchant offer system 3,
including but not limited to data created and/or used by the
merchant offer application 10.
[0084] As discussed later in greater detail, in one embodiment, the
merchant offer application 10 stores or receives customer profile
data and data related to offline and online transactions from the
account management applications 30. The merchant offer application
10 receives data related to customer browsing behavior and returns
targeted offers to the customer 6. Offers include but are not
limited to products, services, discounts, coupons, promotions,
add-on sales, upsells, rebates, advertisements, marketing
information, etc.
[0085] As illustrated in FIG. 6, the customer computer systems 4
generally include a mobile communication device 22, a processing
device 24, and a memory device 26. The processing device 24 is
operatively coupled to the mobile communication device 22 and the
memory device 26. The processing device 24 uses the mobile
communication device 22 to communicate with the network 2, and
other devices on the network 2, such as, but not limited to, the
financial institution-based merchant offer system 3, customer
account systems 8, and/or merchant systems 9, as well as other
financial institution systems not shown. As such, the mobile
communication device 22 generally comprises a modem, server, or
other device(s) for communicating with other devices on the network
2, and a display, keypad, mouse, keyboard, microphone, and/or
speakers for communicating with one or more users. The devices in
the network can be personal computers, personal digital assistants
("PDA"), smart phone, cell phones, etc.
[0086] As further illustrated in FIG. 6, the customer computer
systems 4 comprise computer-readable program instructions 28 stored
in the memory device 26, which in one embodiment includes the
computer-readable instructions 28 of the local merchant offer
application 11 and a web browser application 20. In some
embodiments, the memory device 26 includes a datastore 29 for
storing data related to the customer computer systems 4, including
but not limited to data created and/or used by the local merchant
offer application 11 and/or the web browser application 20.
[0087] In one embodiment of the invention, the local merchant offer
application 11 is the part of the merchant offer application 10
that resides on the customer computer systems 4. The local merchant
offer application 11 assists in monitoring websites that the
customer 6 is browsing through the web browser application 20 by
monitoring and sending the information related to the customer's
web browsing to the merchant offer application 10. In other
embodiments of the invention there is no local merchant offer
application 11, as such the merchant offer application 10, which is
located on the financial institution's databases, performs the
functions of the local merchant offer application 11 and, thus can
interact directly with the web browser application 20 located on
the customer computer systems 4. In other embodiments of the
invention there is no local merchant offer application 11, as such
the merchant offer application 10, which is located on the customer
computer system 4, performs the functions of the local merchant
offer application 11. In still other embodiments of the invention
the local merchant offer application 11 is a separate application,
which is located on the customer computer system 4, that works in
conjunction with the merchant offer application 10.
[0088] Throughout this application the local merchant offer
application 11 is described as the part of the merchant offer
application 10 that resides on the customer computer systems 4;
however, it is to be understood that the apparatuses and methods
described herein would work equally well in the various embodiments
of the merchant offer application 10 and local merchant offer
application 11 described above. Regardless of the configuration,
the local merchant offer application 11 displays offers, determined
by the merchant offer application 10, related to what the customer
is searching to the customer 6 on an interactive graphical user
interface (i.e. local interface 400). The offers can be, among
other things, based in part on the data stored by the merchant
offer application 10 and the customer account systems 8, including
but not limited to customer profile data and transaction
history.
[0089] As illustrated in FIG. 6, the customer account systems 8
generally include a communication device 32, a processing device
34, and a memory device 36. The processing device 34 is operatively
coupled to the communication device 32 and the memory device 36.
The processing device 34 uses the communication device 32 to
communicate with the network 2, and other devices on the network 2,
such as, but not limited to, the merchant offer system 3, the
customer computer systems 4, and/or the merchant systems 9, as well
as other systems at the financial institution not shown. As such,
the communication device 32 generally comprises a modem, server, or
other device(s) for communicating with other devices on the network
2.
[0090] As further illustrated in FIG. 6, the customer account
systems 8 comprise computer-readable program instructions 38 stored
in the memory device 36, which in one embodiment includes the
computer-readable instructions 38 of account management
applications 30. In some embodiments, the memory device 36 includes
a datastore 39 for storing data related to the customer account
systems 8, including but not limited to data created and/or used by
the account management applications 30.
[0091] The account management applications 30, in one embodiment,
are used to store, process, and monitor the transactions, including
but not limited to, deposits, withdrawals, transfers, and payments,
made through various customer accounts, such as, but not limited
to, checking, savings, credit card, hybrid, deposit, credit line,
money market, equity line, investment, bill payment, transfer, etc.
accounts. The account management applications 30 have the
transaction history information for each of the financial
institution's customers, in some cases, for as long as the
customer's have had accounts with the bank. The transactions
history information located in the account management applications
is searchable and sortable over different ranges of time. The
transaction information in the account management applications 30
is used by the merchant offer application 10, along with other
information or alone, to determine what targeted offers and
marketing information should be sent to customers 6. In some
embodiments of the invention, the account management applications
30 include online financial banking applications, such as an online
banking website, which allow a customer 6 to access the customer's
accounts through the Internet.
[0092] As further illustrated in FIG. 6 the merchant systems 9
generally include a communication device 42, a processing device
44, and a memory device 46. The processing device 44 is operatively
coupled to the communication device 42 and the memory device 46.
The processing device 44 uses the communication device 42 to
communicate with the network 2, and other devices on the network 2,
such as, but not limited to, the merchant offer system 3, customer
computer systems 4, and/or customer account systems 8, as well as
other systems at the financial institution not shown. As such, the
communication device 42 generally comprises a modem, server, or
other device(s) for communicating with other devices on the network
2, and a display, keypad, mouse, keyboard, microphone, and/or
speakers for communicating with one or more users.
[0093] As further illustrated in FIG. 6, the merchant systems 9
comprise computer-readable program instructions 48 stored in the
memory device 46, which in one embodiment includes the
computer-readable instructions 48 of merchant applications 40. In
some embodiments, the memory device 46 includes a datastore 49 for
storing data related to the merchant systems 9, including but not
limited to data created and/or used by the merchant applications
40.
[0094] The merchant applications 40, in one embodiment, are used to
generate, store, process, and/or monitor the offers made directly
to customer computer systems 4 over the network 2 or indirectly
though the merchant offer system 3.
[0095] In other embodiments of the invention, the merchant offer
environment 1 will include other systems in the financial
institution that are connected over the network 2. In some
embodiments of the invention, the other systems within the
financial institution could include transaction processing systems
such as check image processing, or online account processing
systems. These other systems can work in conjunction with the
merchant offer system 3, or supplement and/or enhance the merchant
offer system 3.
[0096] FIGS. 7A and 7B illustrate one embodiment of an integrated
online payment and customer shopping process 200 that describes how
a customer 6 utilizes the merchant offer environment 1 to search
for offers on the Internet or in retail stores, receive offers
related to the offers the customer 6 is searching, receive offers
related to web-based content that the customer is accessing, and
accept one or more of the offers using various forms of payment. In
order to utilize the merchant offer environment 1 the customer 6,
in some embodiments, downloads the local merchant offer application
11 to the customer computer system 4, as illustrated in block 202
of FIG. 7. In some embodiments the customer computer system 4 is a
computer, such as a laptop, desktop, or tablet computer, Internet
television, or other electronic or digital medium device, in other
embodiments the customer computer system 4 may be a mobile device,
such as a PDA, cell phone, smart phone, Internet-only computer, or
any other device that has Internet browsing capability.
[0097] Once the local merchant offer application 11 is downloaded
to the customer computer system 4, in some embodiments it will run
by communicating constantly with the merchant offer application 10
located on the merchant offer system 3. In other embodiments, the
customer 6 has the ability to turn the merchant offer application
10 on and off. In still other embodiments of the invention, the
customer 6 will be required to authenticate herself as the customer
before using the local merchant offer application 11 and merchant
offer application 10. Authentication is required in some
embodiments, when the merchant offer application 10 communicates
with the customer's private customer account information located on
the customer account systems 8 at the financial institution. As
explained in greater detail below, the merchant offer application
10 accesses the customer's account information in order to display
to the customer 6, through the local merchant offer application 11,
the customer's balances for the accounts that the customer can use
to pay for purchases made through the merchant offer environment 1.
Moreover, when the customer 6 makes a purchase through the merchant
offer application 10, the merchant offer application 10 accesses
the customer's account through the customer's online banking
accounts and/or the customer account systems 8 in order to make
real-time or near real-time transactions between the customer 6 and
the merchant.
[0098] The customer 6 in some embodiments may perform the
authentication when downloading the local merchant offer
application 11, when the customer 6 wants to use the local merchant
offer application 11, or only when the customer 6 decides to make a
purchase. Generally, in exemplary embodiments, the local merchant
offer application 11 runs on the customer computer system 4 at all
times, and the customer only authenticates herself when the
customer wants to view the identified offers or purchase something
through the offers supplied by the merchant offer application
10.
[0099] As illustrated in block 204 of FIG. 7A, the customer 6
searches the Internet for content, such as products or services or
other information located on websites. For example, as illustrated
in FIG. 8, the customer 6 may be searching for a forty-six inch LCD
television made by Brand "X". Block 206 in FIG. 7A illustrates that
as the customer 6 is searching for a particular product (i.e. the
Brand "X" TV), the merchant offer application 10 communicates with
the web browser application 20 that the customer is using, in order
to determine what offers or other content the customer 6 is viewing
through the web browser application 20. As illustrated in block 208
in FIG. 7A the local merchant offer application 11 transfers the
information related to the content the customer is viewing back to
the merchant offer application 10.
[0100] In other embodiments of the invention, the customer 6 does
not have to search the Internet for offers in order for the
merchant offer application 10 to gather information related to
offers in which the customer 6 is interested. For example, if the
local merchant offer application 11 is downloaded on a mobile
device, such as a PDA, cell phone, smart phone, etc., the local
merchant offer application 11 can relay information to the merchant
offer application 10 about the physical location of the customer
through location determining devices, such as global positioning
satellite ("GPS") or radio frequency ("RF") locator systems in the
mobile device. The merchant offer application 10 can then provide
offers or information that are relevant to the customer's physical
location, such as offers applicable to the store in which the
customer is located, offers at other stores in close proximity,
offers that can be purchased over the mobile device, etc.
[0101] In other embodiments of the invention, the customer 6 can
use the mobile device to identify information related to an offer
at a physical store. For example, information about a product can
be captured by capturing an image of the product, scanning an
identifier (i.e. barcode or UPC number) located on the product into
the mobile device, and/or entering an identifier or keyword related
to a product or service through a keyboard or voice command. The
merchant offer application gathers the information related to the
offer through the local merchant offer application 11, which, as
explained in greater detail below, provides the customer 6 with
related offers or information on the customer's mobile device.
[0102] In some embodiments of the invention, a customer can use a
mobile device to make a purchase through the actual point-of-sale
applications at the store in which the customer is located. In some
embodiments of the invention, a mobile device that is configured
with a payment system, such as a near field communication ("NFC")
payment system or other payment system, can use the system to make
a purchase through local merchant offer application 11 downloaded
on the mobile device. The purchase, in some embodiments, takes into
account real time discounts, e-Coupons, etc. available through the
merchant offer application 10, as discussed in further detail
later. The customer's account can be updated in real-time or near
real-time to reflect the most recent transactions using a mobile
device for payment.
[0103] After receiving information related to what offers or other
content the customer 6 is currently viewing or searching, in some
embodiments, the merchant offer application 10 analyzes the
customer's past transaction purchasing history, and the customer's
profile information to determine one or more offers to present to
the customer 6 through the local merchant offer application 11, as
illustrated by block 210 in FIG. 7A. The merchant offer application
10 analyzes the customer's past purchasing history and the
customer's profile information, in part, from the account
management applications 30, which store the histories of purchases
made by the customer online and offline (i.e. brick and mortar
stores).
[0104] In some embodiments of the invention, the financial
institution may have a relationship with other financial
institutions, credit card providers, Internet shopping services,
etc., in order to gather more transactional data related to the
customer's purchase history when the customer 6 makes transactions
with other business accounts, credit cards, etc., in addition to
the data that the financial institution maintains. In other
embodiments the customer 6 can upload the transaction histories of
transactions made with other financial institution accounts, credit
cards, etc. by authorizing the financial institution to reach out
and pull (or be pushed) data related to transactions from other
accounts. For example, the customer 6 can provide the financial
institution the account number and password to other online
financial banking systems, online credit card statements, etc. and
the financial institution can pull transaction information from
those accounts. This additional information can be also be used to
provide the customer 6 more payment options, from outside accounts,
to use in completing the transaction.
[0105] In other embodiments of the invention the customer can log
onto the customer's own merchant offer account in the merchant
offer application 10, or other account management application 30 to
provide or enter customized profile information. For example, the
customer 6 can request specific types of offers, such as specific
products or services, discounts, or advertisements in which the
customer 6 is interested on a wish list, which is explained in
further detail below. In other embodiments of the invention the
customer 6 can provide profile information, which allows the
merchant offer application 10 to provide more personalized offers
to each individual customer 6. For example, the profile information
could include, but is not limited to, places the customer 6 likes
to shop, hobbies in which the customer is interested, specific
offers or merchants from whom the customer 6 does or does not want
to receive offers from, etc.
[0106] The offers identified by the merchant offer application 10
in block 210 and provided to the customer 6 through local merchant
offer application 11, are determined in a number of ways. In
exemplary embodiments, the financial institution will have in place
arrangements with merchants that allow the financial institution to
provide certain products or services to customers through the
merchant offer application 10 at discounted prices. The financial
institutional will display the various products or services that
are the subject of a discount coupon, rebate, etc. The products and
services will normally be displayed with the items carrying the
greatest discount, coupon, rebate, etc., first. The discount,
coupon, rebate, etc. can be the merchant's normal offer or can be
the subject of a separate arrangement with the financial
institution. In other embodiments, the merchant may pay a fee to
the financial institution per month, week, etc., or a flat fee,
etc., in exchange for the financial institution showing one or more
of the merchant offers to customers 6. The size of discounts
provided, and in some embodiments the fees paid by merchants, can
be based on the number of hits the offer/website of the merchant
receives, the number times the offer is displayed, the number of
customers who accept the offer by making a purchase, and/or the
rank of the offer, etc. In some embodiments of the invention the
merchant may not offer the product at a discount, but instead the
financial institution may subsidize the offer by providing the
discount itself. In this instance, the financial institution would
pay the merchant the full price of the product or service at the
time of sale, but debit the customer account a discounted price or
rebate the customers at some future point in time. The financial
institution could make up for the discounts by charging the
merchants a fee to display the offer to the customer 6 or by taking
payments from the merchant for all of the discounts on offers
provided within a certain time period.
[0107] Therefore, in some embodiments of the invention, either the
merchant or the financial institution will offer customized
discounts for each customer 6, which are based in part on the
customer's profile data and the customer's transaction history
information. As previously discussed the customer profile
information could include what accounts the customer 6 has at the
financial institution (checking, savings, equity line), as well as
what services the customer 6 uses (such as financial planners,
wealth management, etc.). The customer transaction history
information could include the purchases the customer 6 has made at
various stores, the costs of the purchases, time of year and day
they were made, the accounts used to pay for the purchases, etc. In
some embodiments, the more products or services that the merchant
uses with the financial institution the greater the discount will
be, the more accounts and services the customer 6 uses at the
financial institution the greater the discount will be, and the
more the customer 6 spends with a particular merchant the greater
the discounts will be for that merchant.
[0108] The merchant offer application 10 can determine the amount
of the products or services the customer 6 has with the financial
institution through the customer profile information, and can use
that information as a basis for making offers available to that
customer 6. The amount of business includes but is not limited to,
how many accounts the customer has, the amount of money in those
accounts, any loans the customer 6 has with the financial
institution, any financial services the customer 6 uses, etc. In
one embodiment, the more products and services the customer 6 uses
from the financial institution the greater the discount will be.
These factors can also be combined with the customer's
relationships with various merchants to determine what offers to
make available to the customer 6. For example, the merchant offer
application 10 can identify from the customer's transaction history
what types of products and services the customer 6 has purchased
from various merchants in the previous week, month, six-months,
year, etc. The size of the discounts the customer 6 receives based
on the customer's relationship with the merchants could based on
the purchases made by the customer 6 with the merchant, and could
vary in real-time or near real time each time a purchase is made or
not made. For example, a merchant in some embodiments may want to
offer greater discounts to a customer 6 who has not purchased
anything in a while in order to try to generate new business. In
other embodiments, a merchant may want to reward a loyal customer 6
in order to promote additional purchases. Therefore, in some
embodiments the more the customer 6 has purchased in the past, the
greater the customer's discount will be.
[0109] For example, the financial institution may have
relationships with both Company "B" and Company "E". A specific TV
offered through the merchant offer application 10 by Company "E"
may sell for ten (10) dollars less than the same TV offered through
Company "B", based on the financial institution's arrangements it
has made with both merchants. However, when the customer 6 is
searching for a specific TV (or TV's in general), the financial
institution may identify the transactions the customer 6 has made
with both businesses, by examining the transaction history
information that the financial institution has. If the financial
institution, for example, identifies that the customer 6 purchased
two-thousand (2,000) dollars in products and services from Company
"B" in the previous year, the terms of the relationship between the
financial institution and Company "B" may dictate that the
financial institution will offer the TV for one-hundred (100)
dollars off of the typical price of the TV. Therefore, the customer
6 receives a more attractive price than she would have received
because of the customer's 6 relationship with the financial
institution and/or the merchant.
[0110] In other embodiments of the invention the merchant offer
application 10, provides member offers, such as a list of product
discounts, that are offered to all customers 6 of the merchant
offer environment 1. In still other embodiments of the invention,
the merchant offer application 10, provides public offers, such as
a list of product discounts that are offered by the merchant to
anyone in the public, not just members of the merchant offer
environment 1. Furthermore, customized offers, member offers, or
public offers are provided by the merchant offer application 10 and
displayed through the local merchant offer application 11.
[0111] When the merchant offer application 10 identifies an offer
for the customer 6 the local merchant offer application 11 notifies
the customer 6 of the offer, as illustrated by block 212 in FIG.
7A. In one embodiment for example, as illustrated in FIG. 8, a
notification indicator 304, such as a dollar sign or other icon or
indicator could appear in the bottom of the web browser that the
customer is using to view the merchant's website. In other
embodiments, the notification indicator 304 could appear in the
tool bar at the top or bottom of the web browser or computer screen
display, or in other areas of the web browser or computer screen.
The dollar sign, or other icon or notification indicator 304,
signals to the customer 6 that the merchant offer application 10
identified an offer in which the customer 6 may be interested,
which could save the customer 6 money. The offer may be relevant to
a product or service the customer is viewing, it may be responsive
to a wish list item, it may be based on just the customer's
transaction history and/or profile information, etc.
[0112] As illustrated in blocks 214 and 216 of FIG. 7B, when the
customer 6 selects the notification indicator 304, a pop-up window,
such as a local interface 400, or other display is provided on the
computer screen, or other device, illustrating the offers
identified by the merchant offer application 10 as shown in FIG. 9.
In some embodiments of the invention the customer 6 does not need
to select the indicator to view the local interface 400. In some
embodiments, the local interface 400 automatically pops-up on the
screen when the merchant offer application 10 identifies an offer.
In other embodiments of the invention, when an offer is identified
the offer appears within the web-browser or web-browser page that
the customer 6 was viewing.
[0113] The pop-up window, such as the local interface 400, provides
the customer 6 with offers related to products or services, or
content that the customer 6 is currently viewing at an Internet
website of a merchant, products or services listed on the
customer's wish list, or product or services of interest to the
customer 6 based on the customer's transaction history and/or
customer profile. The offers provided to the customer 6 in the
window reflect offers, prices, and discounts from the current
merchant or other merchants in which the customer 6 may be
interested. The offers can be ranked based on various factors, such
as but not limited to the discounts offered, agreements between the
merchants and the financial institutions, etc. The offers, in some
embodiments will include links, such as to the merchant's web
pages, which provide more information about the relevant
offers.
[0114] As illustrated in FIG. 10, in an exemplary embodiment of the
invention, the local merchant offer application interface 400 has
two sections, the accounts section 410, and the offers section 430.
The accounts section 410 illustrates the available balances the
customer 6 has in each of the customer's accounts. The merchant
offer application 10 communicates with the local merchant offer
application 11 and the account management applications 30 in the
customer account systems 8 to determine and display the account
balances in the local interface 400. Other sections that contain
other types of information, for instance the customer's monthly
budget, etc. can also be displayed in the local interface 400.
[0115] The offer section 430, in some embodiments, displays the
other retailers 432 that can offer the same or similar product, the
offer description 434 illustrating what the offer is (the same
product or a similar one), the percent savings 436, and the actual
dollar amount savings 438. In other embodiments of the invention
the offer section 430, another section, or a separate tab displays
related or add-on products in which the customer 6 may be
interested. For example, if a customer is searching for a forty-six
inch LCD TV the customer may also be interested in DVD players, or
services. In one embodiment of the invention, a "see related
offers" section button 440 or tab is selected by the customer 6 in
order to view any related offers identified by the merchant offer
application 10, as illustrated in FIG. 10. However, in some
embodiments the related offers are displayed in the offer section
430 along with the product for which the customer 6 is searching.
In still other embodiments of the invention, the local merchant
offer application interface 400 has an advertisement section 450
that displays one or more targeted advertisements to a customer 6
based on the customer's previous purchasing history, customer
profile information, and/or website content that the customer 6 is
currently viewing.
[0116] As illustrated by block 218 in FIG. 7B, in some embodiments
the local interface 400 provides links to websites that contain
additional information about the products or services that are the
subject of the offers or related offers in the offers section 430.
The customer 6 selects the offer and is then taken to a website,
such as the merchant's website, other website, or a display in the
local interface 400, which provides more information about the
savings provided by the offers. Block 220 in FIG. 7B illustrates
that the customer can select the original offer that the customer 6
located or one of the replacements offers that the merchant offer
application 10 identified and displayed to the customer 6.
[0117] As illustrated the by block 222 in FIG. 7B the customer 6
can also purchase related products or services in addition to, or
in lieu of, the originally located products or services or
replacement products or services displayed by the merchant offer
application 10.
[0118] In some embodiments, the customer 6 will have to
authenticate herself in order for the merchant offer application 10
to communicate with the account management applications 30, such as
the customer's online banking accounts, in order to display the
customer's real-time account balances. In other embodiments of the
invention, the merchant offer application 10 estimates the
customer's account balances based on what the balances were the
last time the customer 6 made a purchase or authenticated herself.
In some embodiments of the invention, the local interface 400
displays the account balances for the customer's checking account
412, savings account 414, credit card account 416, and any reward
points 418 that the customer has accumulated. In still other
embodiments, after the customer 6 makes purchases, the account
balances displayed in the local interface 400 are updated in
real-time in order to show the customer 6 how much money the
customer 6 has available in each of her accounts.
[0119] In other embodiments of the invention, if the customer 6
grants access, the local merchant offer application 11 can also
display the account information, such as balances, of other
accounts or credit cards maintained by outside financial
institutions. In these embodiments, the financial institution may
have a relationship with the outside financial institutions and/or
the customer 6 has supplied the merchant offer application 10 with
access to the outside accounts (i.e. by providing the sign in and
password information for online banking services).
[0120] After the customer 6 selects the products or services she
wants to purchase, either through the Internet or at a physical
store, the merchant offer application 10 assists the customer in
determining how she wants to pay for the products or services. As
illustrated by block 224 in FIG. 7B the customer 6 selects from
which account or multiple accounts the customer 6 wants to pay for
the offer selected. In some embodiments of the invention the
customer's preference for paying for an offer from a particular
account or set of accounts is stored in the customer profile
information in the merchant offer application 10, and in such
circumstances, the predetermined preference acts as a default. In
some embodiments of the invention, the necessary financial and
shipping information is pre-populated at check-out when the
customer 6 makes a purchase. In other embodiments of the invention,
the customer 6 is prompted at checkout as to how the customer wants
to pay for the products and services selected. In such embodiments,
a list of the customer's accounts is provided in the local
interface 400 or in another pop-up window. While the financial
institution will pay the merchant the full amount of the offers or
the discounted amounts, in some embodiments the customer can tell
the financial institution how to apply the cost of the products or
services to the customer's accounts. For example, the customer for
one purchase may indicate that she wants to pay 20% from her
checking account and 80% from her savings account. The amounts and
the various accounts can be changed for every purchase made. The
decision of what account or accounts are used to make payments can
be made in some embodiments at the time of purchase. In other
embodiments of the invention, the customer 6 has a period of time
to determine what account or accounts are debited. In such
embodiments of the invention, the customer 6 logs into her online
banking, merchant offer, or other account and, either at the time
of purchase or thereafter, associates particular transactions and
transaction amounts with particular accounts.
[0121] In some embodiments of the invention, the financial
institution effectively becomes a clearing house for any of the
transactions made between the customer 6 and the merchant. After
the customer 6 authenticates herself as an actual customer of the
financial institution, in some embodiments the financial
institution guarantees payment to the merchant for the products and
services. The financial institution is able to determine in each
instance whether it wants to assume the risk for the transaction
based on information the financial institution has for each of its
customers. This is a benefit over independent credit card issuers
because these companies do not know the financial well-being of one
their customers outside of the customers' credit card balances and
payment histories. In this respect, the merchant offer application
10 can be utilized to help customers from over spending their means
and can assist the financial institution in managing risks
attendant to extending consumer credit.
[0122] The actual purchase of the selected products and services
from the merchant through the merchant offer environment 1 is
achieved in a number of ways. For example, in one embodiment of the
invention, the links for particular offers in the local interface
400 take the user to the merchant's secure website. However, in
other embodiments of the invention, the links take the customer 6
to the public merchant website and the financial institution can
pre-populate the account information, as well as the mailing
information. In other embodiments of the invention, the account
information can be a preapproved single use account number provided
by the financial institution, which ties the customer 6 to the
customer's accounts at the financial institution, without
disclosing the customer's real account information to the merchant.
In those instances where the financial institution has a
pre-existing relationship with the applicable merchant, the
transaction that takes place can be virtually instantaneous. The
financial institution can credit the account of the merchant, if
the merchant has an account at the financial institution, or in
other embodiments of the invention, the financial institution can
electronically transfer the money to the merchant. Alternatively,
the financial institution can credit the merchant for the customers
purchase on a schedule that is prearranged and agreed to by the
financial institution and merchant.
[0123] After the payment method is satisfied, either the customer 6
or the financial institution can transfer the shipping address of
the customer 6 to the merchant for shipping the product or
providing the service. In lieu of the merchant shipping a product
to the customer 6, the customer 6 can pick-up the product at the
store. Alternatively, if the customer is making the purchase at a
brick and mortar location the customer 6 can simply pick-up the
product when purchased.
[0124] In other embodiments of the invention, the financial
institution provides various financing options for the customer 6
to use in paying for the selected products or services. For
example, the financial institution can allow the customer to make a
purchase from a merchant, but not debit the customer's account or
accounts for 30, 60, 90, etc. days. As is the case with the amount
of discounts provided to various customers 6, different financing
options can be provided to customers depending, in some embodiments
for example, on the customer's standing with the financial
institution and the number of financial of products and services
the customer uses with the financial institution.
[0125] Likewise, with respect to the financial institution making
payments to a merchant, there are a number of options available to
complete the transition as far as the merchant is concerned. In
some embodiments of the invention, the payment system and process
provides settlement options to the merchant, such as real-time,
3-day, 15-day, etc. The merchants can be charged different types of
fees, or no fees, depending on what payment options the merchants
require. Different options may apply in different circumstances.
For instance, a different settlement option might apply to
different products sold by the merchant depending upon the
merchant's payment obligations to its suppliers. In other
embodiments, the payment options may vary depending upon the
merchant's financial situation, need for cash flows, lines of
credit etc. The payment option variables are monitored
electronically by the financial institution, and the appropriate
payment option can be selected automatically based on a series of
rules in the merchant offer application.
[0126] In some embodiments of the invention the steps in blocks 204
to 224 are repeated every time the customer 6 visits a new
web-site, selects a different product or service from the web-site
the customer 6 is currently viewing, or when the merchant offer
application 10 identifies a product or service for the customer 6
based on the customer's wish list, transaction history, or customer
profile.
[0127] After a customer 6 selects a product or service,
replacement, or add-on to purchase, the merchant offer application
10, in some embodiments of the invention, provides online social
networking opportunities. For example, the customer 6 can rate a
specific offer, merchant, or discount program. In other embodiments
of the invention, the customer 6 can display in the local interface
400 the most popular offers as rated by other customers who have
accepted the offer. Furthermore, in other embodiments of the
invention the customer 6 can suggest to other customers a purchase
or discount, that the customer 6 made, by sending an e-mail,
instant message notification, text message, or other notification
through a messaging service in the merchant offer application 10 or
through other standard messaging formats using the merchant offer
application 10. In other embodiments of the invention, the customer
may join social networks or groups through the merchant offer
application 10, which allow the customer 6 and other members of the
groups to receive special offers that only members of the specific
group can receive and use.
[0128] In addition to displaying add-on products and services,
while the customer 6 is searching for specific products or services
on the Internet, the merchant offer application 10 will also make
add-on product or service suggestions after the customer has
purchased a product or service through the merchant offer
application 10. In some embodiments of the invention some types of
add-ons can only be made after a particular offer is accepted and
purchased by the customer 6. For example, an extended warranty for
a particular product such as a forty-six inch Brand "X" television
offered through a merchant is only available for purchase through
that merchant if the actual product is purchased through that
merchant. These additional add-ons, in some embodiments, can be
displayed to the customer 6 through the local merchant offer
application interface 400, after the customer 6 has purchased a
particular product or service. In other embodiments of the
invention the add-ons are sent to the customer 6 though e-mail,
text message, instant message, or other like form of communication.
In other embodiments of the invention, some add-ons are provided by
the merchant offer application 10 and are based in part on product
type. For example, when a blue-ray DVD player is purchased the
add-ons will include Blue-ray DVDs as opposed to regular DVDs,
because the customer would not likely want Blue-ray DVDs if she
purchased a regular DVD player.
[0129] In some embodiments of the invention the merchant offer
application 10 has a search feature that allows a customer to
search for available offers, through the local merchant offer
application 11, by product (i.e. SKU, model, etc.), merchant,
product type, brand, manufacturer, price, discount price, location,
etc. The discounts provided to the customer 6 during the search can
be customized for each individual user based on relationships
between the financial institution and merchants, the customer's
profile information, the customer's transaction history, and/or
publicly available discounts. The offers from the search, in some
embodiments, are prioritized based on the customer's location,
transaction history, profile information, etc.
[0130] In some embodiments of the invention the customer might not
be able to find the particular product or service for which the
customer 6 is searching because the product is out of stock or the
service is booked, the product or service is too expensive for the
customer 6, the product or service cannot be delivered in time,
etc. In such cases, the merchant offer application 10 provides the
customer 6 the ability to add a particular desired product or
service to a wish list. The customer's individual wish list, in
some embodiments, has one or more products and services that have
notification alerts attached to them. The notification alerts
inform the merchant offer application 10 to watch for offers for
those specific products or services, and any discounts related to
them. The customer can also add merchants to the wish list in order
to be notified when a specific merchant is providing discounts to
customers.
[0131] When the merchant offer application 10 identifies the
availability of a product or service that is on the customer's wish
list, the merchant offer application 10 notifies the customer. For
example, the customer can identify a specific product or service,
such as a forty-six inch TV, and/or a specific price for the
product or service, such as one-thousand thee-hundred (1,300)
dollars for the forty-six inch TV. The merchant offer application
10 monitors the databases 19 in merchant offer system 3, or in some
embodiments searches the Internet, for the product or service that
meets the particular parameters that the customer 6 wants. The
merchant offer application 10 notifies the customer 6 when one or
more merchants meet the customer's parameters. In other examples,
the customer 6 can identity a specific merchant, such as Company
"B" or a specific type of product or service, such as a flat screen
TV, and request that the merchant offer application 10 notify the
customer when the merchant is having a sale, or when sales are
occurring for that type of product or service. In this way the
customer 6 does not have to continuously search for a product or
service. Instead, the customer 6 lets the merchant offer
application 10 identify the product or service for the customer 6,
and then receives a notification when the particular product or
service is identified.
[0132] In some embodiments of the invention the customer 6 can be
notified of products or services, coupons, advertisements, reward
cards or points from a merchant, etc., by the merchant offer
application 10 when the customer is not even searching the web for
a specific offer. The merchant offer application 10, in some
embodiments, uses the customer's wish list, or the customer's
profile data and transaction history, to notify the customer when
one or more merchants are offering a particular product or service
in which the customer 6 might be interested. In one embodiment of
the invention, the offers found by the merchant offer application
10 are sent to the user though various communication channels, such
as, but not limited to e-mail, SMS, text messages, financial
institution statements, on receipts for purchases online or at
brick an mortar institutions, or ATM transactions, etc.
[0133] In some embodiments of the invention, the financial
institution can monitor each customer's savings realized and not
realized by using or not using the merchant offer application 10. A
system and process is used for determining and displaying to
customers 6 the amount of money saved, including, but not limited
to percentages saved, total savings, what could have been saved,
etc. The merchant offer application 10, either online, though the
local merchant offer application 11 or online banking, or through
paper statements, illustrates the amount of money the user saved or
could have saved by using the merchant offer application 10 on both
a total basis over a specified time period, as well as on a
transaction-by-transaction basis. In other embodiments of the
invention, the amount saved if the customer 6 would have enrolled
in more financial institution product or services could also be
illustrated online or in paper statements. Also in some embodiments
of the invention, discounts, e-coupons, merchants, etc. can be
suggested for future purchases through the online or paper
statements.
[0134] In other embodiments of the invention the merchant offer
application 10 is accessed though and runs inside one or more of
the account management applications 30, such as an online financial
banking application. For example, in some embodiments the customer
6 logs onto to the customer's online financial banking accounts,
and searches for offers through the online financial banking
account application. The merchant offer application 10, acting
through the online financial banking account application, provides
offers, add-ons, etc. to the customer 6 as previously discussed.
However, in this embodiment the offers are displayed though the
online financial banking application not through a separate local
merchant offer application 11 that was downloaded to the customer
computer systems 4. Therefore, in this embodiment, the customer 6
could use the merchant offer application 10 on any computer because
the merchant offer application 10 and local merchant offer
application 11 are run through an online financial banking
application and are not tied to a customer's specific computer
system 4.
[0135] The merchant applications 40, in some embodiments, allow the
merchants to access the merchant offer application 10 over the
network 2 through the merchant offer system 3. The merchant offer
application 10, in some embodiments, has a merchant interface that
the financial institution uses to mange the merchant network by
only allowing access to the merchant interface to specific
merchants that the financial institution has certified for
inclusion into the merchant offer environment 1. The merchant
interface allows a merchant to enter offers into the merchant offer
application 10 that are available to all customers 6, groups of
customers 6, or individual customers 6 based on customer
demographic information. In some embodiments, the merchant
interface also allows a merchant to monitor its offers, such as the
status and success of its offers.
[0136] The financial institution will first determine what
merchants to certify for access to the merchant offer application
10. In some embodiments, the merchant must meet quality standards
set by the financial institution before the merchant is certified.
In some embodiments, the quality standards include the financial
stability of the merchant, customer ratings of the merchant,
supplier and distributor ratings of the merchant, product or
service delivery time, payment timeliness, etc. These factors can
be determined by the financial institution through a number of
different channels. For example the merchant financial stability
could be determined from the accounts the merchant has with the
financial institution, other financial institutions, or outside
rating agencies. Customer, supplier, or distributor ratings of the
merchant can be determined from consumer advocacy groups, or other
rating organizations, that the financial institution uses or with
which the financial institution has partnered.
[0137] After the financial institution certifies the merchants for
access to the merchant interface, the financial institution
provides the merchants with user names and passwords or other
merchant authentication mechanisms that allow the merchant to
access the merchant interface through the merchant offer
application 10. Thereafter, the merchant can access the merchant
interface and authenticate that the financial institution has
certified that the merchant can access the merchant offer
application 10. The authentication mechanisms also indicate to the
financial institution that the current user has authority to create
and/or monitor offers for the particular merchant. The merchant can
then begin to enter offers for the financial institution's
customers 6.
[0138] In some embodiments the merchant can create, modify, and
control the offers in the merchant applications 40 and upload the
offers to the merchant offer application 10. In other embodiments
of the invention the merchant can create the offers directly in the
merchant offer application 10, through the merchant interface.
[0139] In some embodiments of the invention, when entering offers
into the merchant offer application 10 the merchant can set various
preferences associated with a product or service, such as, but not
limited to, a specific price or price range for which the merchant
is willing to sell a product or service, a discount percentage to
offer, identification of products or services or types of products
or services to which to apply the offer, how long the offer will be
available to customers, if the offer changes over time, if
additional discounts apply to the product or service, etc. For
example, to name a few, the merchant may set a particular price for
a product or service which will gradually decline in price
automatically every month. The merchant may indicate that an offer
is only good for a month. The merchant may also indicate that a
product or service will have an additional discount if the customer
purchases other products or services from the merchant at the same
time. The merchant may offer credits or rebates to all the
customers who purchase a product or service, if there are a
specified number of sales of the product or service.
[0140] In some embodiments of the invention, the merchant can also
set what customer should receive the offers based on customer
demographic information, such as, but not limited to age,
geographic location, customer purchasing history, groups or clubs
the customer is associated with, etc. For example, some offers may
apply to all of the customers 6 in the merchant offer application.
However, some offers may only apply to customers who live in a
particular state or region. The merchant may also limit offers to
individual customers 6 who have spent a specific amount of money
with the merchant in the past, or who have purchased a specific
product or service from the merchant over a specific time
frame.
[0141] The offers entered into the merchant offer application 10
can be provided to customers 6 in real-time, or in other
embodiments can be set to take effect at a later date in the future
or not until the financial institution has approved the offer
submitted by the merchant. The merchant has the ability, in some
embodiments, to update the offers that they entered into the
merchant offer application 10 anytime to try to influence sales of
various products or services. However, in some embodiments, some
offers may not be able to be changed for a period of time once they
are imputed into the system.
[0142] Since the financial institution is providing a service to
its customers 6 by providing offers to the customers 6 from various
merchants, any merchants who are not providing adequate customer
service are also reflecting negatively on the financial
institution. Therefore, not only does the financial institution has
the ability to manage the merchants in the merchant offer
environment 1 by determining what merchants are allowed into the
merchant offer environment 1, but they also have the ability to
remove merchants from the merchant offer environment 1. In some
embodiments, the financial institutions can make periodic reviews
of merchants that have been certified, in order to make sure the
merchants are still financially stable, or have received positive
customer feedback.
[0143] In some embodiments, the merchant interface allows the
merchant to monitor current offers. For example, the merchant
interface may create charts, graphs, tables, and/or other
statistics for the merchant and display these to the merchant when
the merchant logs into the merchant interface. These statistics may
relate to particular offers and the success thereof, such as how
often they are displayed to potential customers, how often they are
accepted, the amount of money being made or discounted, and/or the
like. The statistics may also provide an overview of the success of
the overall relationship with the financial institution and use of
the merchant offer system 3.
[0144] Thus, systems, apparatus, methods, and computer program
products herein described provide for monitoring transactions and
providing savings metrics associated with the transaction in
conjunction with a financial institution-based merchant offer
program. By monitoring all transactions and providing the customer
with savings metrics related to how much the customer saved using
merchant offers provided by the program, as well as, how much the
customer could have saved if the customer had used an available
offer, the customer benefits from knowing the financial impact of
the program and the financial institution benefits by enticing the
customer to use the program more frequently.
[0145] While certain exemplary embodiments have been described and
shown in the accompanying drawings, it is to be understood that
such embodiments are merely illustrative of and not restrictive on
the broad invention, and that this invention not be limited to the
specific constructions and arrangements shown and described, since
various other changes, combinations, omissions, modifications and
substitutions, in addition to those set forth in the above
paragraphs, are possible.
[0146] Those skilled in the art may appreciate that various
adaptations and modifications of the just described embodiments can
be configured without departing from the scope and spirit of the
invention. Therefore, it is to be understood that, within the scope
of the appended claims, the invention may be practiced other than
as specifically described herein.
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